Home prices drop, gains on Wall Street 4/7/22

Home prices are starting to drop across the country. And Walmart has an interesting proposition to get new truck drivers.
Good afternoon. After two days of losses, all three indexes posted some gains on this Thursday.

The Dow was up 87 points to close at 34,583
The Nasdaq gained 8
The S&P advanced 19

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Treasury secretary Janet Yellen called crypto “transformative” in a speech today. She says a digital dollar could become a “trusted money comparable to physical cash”.

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Rising mortgage rates are causing more home sellers to lower their asking prices. About 12% of homes for sale had a “price drop” over the last month. The 30-year fixed rate is now above 5%.

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Only 166,000 people filed initial claims for jobless benefits last week. That’s the lowest level since November of 1968. It’s just another sign workers are benefitting from a hot labor market.

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And if you’re looking for a new job… Walmart has an option. Become a truck driver. Starting pay? $95,000 to $110,000 per year. Walmart says it needs good drivers as demand grows. A shortage of truck drivers during the pandemic has put pressure on supply chains.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.